San Mateo, Calif.-based Coupa Software (NASDAQ: COUP) launched a $50m fund to foster innovation in Business Spend Management.
Led by J.J. Freitag, managing director, Coupa Ventures will invest in early- and growth-stage companies breaking down inefficiencies in how businesses manage their spend, aligning processes and decisions across supply chain, procurement, and finance. As part of its debut, Coupa announced the fund’s first two portfolio companies: Zylo and SourceDay.
Led by Eric Christopher, co-founder and CEO, Zylo is a SaaS management platform helping companies manage and optimize cloud-based applications. The company’s platform provides organizations with visibility into what software is being used, how much is spent, and how to optimize their software investments. Coupa Ventures invested along with existing investors Menlo Ventures and Bessemer Venture Partners.
Led by Tom Kieley, CEO, SourceDay is a supply chain performance solution that connects the gap between a company’s enterprise resource planning (ERP) and its supply chain network.